Ryan Donovan, CUNA’s senior vice president, legislative affairs, chats with a league staff orientation attendee. Earlier, he discussed CUNA’s advocacy efforts in Washington. “We are the eyes and ears and voice of CUs on Capitol Hill,” Donovan says.
Human trafficking, money laundering, trade-based money laundering and terrorist financing all come with their own sets of red flags for financial institutions. In addition, entities such as money services businesses and cash-intensive businesses can be legitimate, but also have potential to be used for illicit activities.